Spyre Therapeutics, Inc. (NASDAQ:SYRE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Spyre Therapeutics, Inc. (NASDAQ:SYRE) have been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $51.50.

Several equities research analysts have commented on the company. Robert W. Baird upped their price objective on Spyre Therapeutics from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim increased their price target on shares of Spyre Therapeutics from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and set a $45.00 price target on shares of Spyre Therapeutics in a research report on Friday, November 8th.

Institutional Investors Weigh In On Spyre Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new position in Spyre Therapeutics during the second quarter valued at $28,000. Quest Partners LLC purchased a new position in Spyre Therapeutics in the 2nd quarter valued at about $36,000. Carlyle Group Inc. acquired a new stake in Spyre Therapeutics in the 2nd quarter worth about $227,000. Intech Investment Management LLC acquired a new stake in Spyre Therapeutics in the 3rd quarter worth about $246,000. Finally, Profund Advisors LLC purchased a new stake in Spyre Therapeutics during the 2nd quarter worth approximately $296,000. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Spyre Therapeutics Stock Up 2.1 %

Spyre Therapeutics stock opened at $24.35 on Friday. The business’s 50-day moving average price is $28.38 and its 200 day moving average price is $28.17. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -3.26 and a beta of 2.82. Spyre Therapeutics has a 52 week low of $20.07 and a 52 week high of $47.97.

About Spyre Therapeutics

Spyre Therapeutics, Inc, a preclinical stage biotechnology company, focuses on developing therapeutics for patients living with inflammatory bowel disease (IBD). It develops SPY001, a human monoclonal immunoglobulin G1 antibody designed to bind selectively to the a4ß7 integrin being developed for the treatment of IBD (ulcerative colitis and Crohn's disease).